BUMPER, the new name for Auto Service Finance, has been named by the Financial Times as one of the top 100 fastest growing companies in Europe.
The UK-based fintech business provides car owners with an interest-free payment platform to fund servicing and repair work, debuts at number 89 in the newly published FT1000: Europe’s Fastest Growing Companies of 2021. It was the 21st fastest growing UK business in the rankings.
The annual listings track companies with the strongest organic revenue growth, excluding acquisitions, over a three year period. Bumper’s revenues since 2017 have grown by 1385.7% and it is on course to process £100m aftersales transactions by the end of the year.
Since launching in 2014, the fintech business has helped over 100,000 car owners fund their servicing and repair bills. Its services are provided through over 2,500 franchised dealers and over 650 garages.
The announcement of the FT ranking coincides with the company’s decision to rebrand as Bumper.
James Jackson, Chief Executive and co-founder, said: “We’re delighted to be acknowledged by the Financial Times as one of the fastest growing companies in Europe, the recognition comes at an important time for us as we start the next phase of our growth as Bumper.
“The time was right for a rebrand and the new name will help further differentiate our Buy Now Pay Later proposition as we rollout new funding solutions.
“We believe the distinctive new branding will resonate with businesses and car owners. It’s a shorter and more memorable name. Bumpers protect cars and we’re doing the same for their owners by sparing them the financial impact of finding a lump sum to pay for distress purchases,” said Jackson.
Bumper will support the rebrand with a high profile B2B digital marketing campaign and consumer advertising.
The business is based in Sheffield and London, with a tech development centre in Ankara, Turkey. Its funding service enables dealers and garages to sell a larger proportion of red and amber work, with no risks or liabilities, reduce their workshop downtime and create greater customer loyalty.